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British composer Lord Lloyd Webber is selling four of his theatre's in London's West End today to legendary Broadway producer Max Weitzenhoffer for a staggering $19.8 million. Weitzenhoffer is desperate to become an important player in the British capital's theatreland and has already produced several hit shows there, including Some Girls, starring fellow American David Schwimmer. The Cats creator's Really Useful Group will retain eight theatres - including the London Palladium and the Adelphi - while the Apollo, the Duchess, the Lyric and the Garrick all pass to Weitzenhoffer. Lloyd Webber says, "I have always been keenly aware of the responsibility that comes with ownership of such valuable national assets and throughout this process have taken great pains to persuade my partner, Bridgepoint Capital, that we must sell only to someone who understands the particular nature of theatre, and who will protect and preserve these very special buildings."...

Rap mogul Sean 'P. Diddy' Combs has pulled out of talks to buy four of British composer Andrew Lloyd Webber's London theatres, after the price rose too high. Lord Lloyd Webber - the creator of musical blockbusters The Phantom Of The Opera, Starlight Express, Cats and Evita - is selling the Apollo, the Garrick, the Duchess and the Lyric, all major names in the British capital's West End. Last month, it was reported P. Diddy was interested in buying the prestigious venues and planned to convert some of them into nightclubs. However part of the deal offered by Lord Lloyd Webber's Really Useful Company stipulates the buildings must remain as theatre for the next 50 years.